Cost of goods sold Ending inventory Year 3 $593,825 101,400 Year 2 $376,650 91,750 Year...
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Cost of goods sold Ending inventory Year 3 $593,825 101,400 Year 2 $376,650 91,750 Year 1 $341,300 96,500 Use the above information to compute inventory turnover for Year 3 and Year 2, and its days' sales in inventory at December 31, Year 3 and Year 2 (a) Use the above information to compute inventory turnover for Year 2, and its days' sales in inventory at December 31, Year 2. Numerator 1 Denominator = Ratio Inventory turnover Days' sales in inventory (b) Use the above information to compute inventory turnover for Year 3, and its days' sales in inventory at December 31, Year 3. Numerator Denominator = Ratio Inventory turnover Days' sales in inventory
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